Seriously, what the hell is an S-Corp? I get asked this all the time. This is one of those topics that the internet is terrible for. There's so much misconception about what an S-Corp is and when it's …
What Are The Different Business Entity Types?
When you start a business, you need to consider the business entity type you're going to operate as. If you don't choose a type, one will be chosen for you. The default options area almost always the …
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Different Types of Liability
We all know broadly what liability means. If you make a mistake, hurt someone, or owe someone, you're liable to them. However, there are a lot of different types of liability, and each ones comes with …
Reporting Unrelated Business Income
If you're a nonprofit with unrelated business income, you need to know how to report unrelated business income to the IRS. Nonprofit taxes are not fun. However, if you keep proper records, they can be …
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Unrelated Business Income
Unrelated business income (UBI) is something every nonprofit owner needs to know about. By default, income in a nonprofit is tax free. However, you may owe tax on certain income that is unrelated to …
Annual LLC Requirements
If you have an LLC, you have annual LLC requirements. These are fairly simple to follow. Annual Report Firstly, you need to keep up with your annual report. In North Carolina, every LLC must …